The cryptocurrency space is pushing 15 years since Bitcoin first came out. During this period, enthusiasts have seen their fortunes climb through the roof and back down to the floor. The coronavirus pandemic almost convinced the skeptics that it was finally time for the sector to take off and never break hearts.
With a lot happening and people making up rules as they go, the crypto space is chaotic. That is why some projects show great potential, and a small misstep can collapse established industry leaders.
SingularityNET (AGIX) Riding the AI Wave
Away from cryptocurrencies and blockchain, artificial intelligence (AI) and machine learning (ML) have the world on edge. The technologies were not a big thing, at least before OpenAI launched ChatGPT, a chatbot based on GPT-3.5. It can interact in conversational dialogue form and provide responses that can appear surprisingly human.
Once the public experienced it, the chatbot generated hype around AI such that crypto-focused projects built around the technology, like AGIX, saw their prices skyrocket. To put this into context, ChatGPT became available to the public on November 30, 2022. However, it wasn’t until January 2023 that the chatbot’s capabilities became apparent. During this time (between November 2022 and February 2, 2023), AGIX’s price shot up 1,173%.
SingularityNET is a decentralized AI network that aims to democratize AI. Its mission is to create an open marketplace for AI services. Users, especially developers, use the platform to exchange AI services in a decentralized and democratic manner. The platform is built on blockchain technology, ensuring the network is secure and transparent.
Given its positioning and the recent hype around AI, SingularityNET has great potential to be the breakout project of the next crypto bull wave. As more developers and businesses come on board, the network will become even more powerful, creating a virtuous cycle that could lead to the widespread adoption of AI and blockchain technology
Binance (BNB) Backroom Maneuver Has the Market on Edge
Meanwhile, Binance appears to have stumbled into trouble just weeks after it was embroiled in the scandal that saw FTX collapse. According to recent reports, the largest cryptocurrency exchange is accused of engaging in backroom dealings and market manipulation. The allegations claim that Binance engaged in several unethical practices, such as front-running orders and manipulating the market to benefit its own traders.
Interestingly, FTX, a major Binance competitor, fell because of similar accusations. The controversy has seen Binance’s cryptocurrency, Binance Coin (BNB), depreciate by over 30% since the allegations were made public. This is a significant blow to Binance, as BNB is one of the largest cryptocurrencies by market capitalization and is a key part of Binance’s business model.
The controversy has also raised questions about the cryptocurrency industry as a whole. The cryptoverse has always been a controversial industry, with concerns about its lack of regulation and transparency. The allegations against Binance have only added fuel to the fire, with many investors and regulators calling for greater oversight and regulation of the industry.
TMS Network (TMSN) Promises Stability in a Chaotic Industry
As Binance’s woes unfold, many investors are looking for alternative investment opportunities in the cryptocurrency industry. One such opportunity is TMS Network (TMSN). TMSN is a promising new player in the market, offering stability and security in a space plagued with chaos.
TMS Network (TMSN) is a fully decentralized platform designed to provide a stable and secure environment for crypto-focused traders and investors. It is built on a proof of stake (PoS) consensus mechanism, providing a high level of security and stability. Furthermore, unlike other projects, TMSN avoids centralizing core processes, ensuring problems such as Binance’s do not arise.
Additionally, TMSN stands out for faster transaction speeds, low fees, and a robust security system designed to protect against hacking and other security threats. Perhaps most importantly, TMS Network is committed to transparency and accountability, two qualities that are sorely lacking in cryptoverse.Like SingularityNET, TMS Network has the potential to become a breakout crypto project. Both offer unique approaches to crypto-based projects, opening new fronts for pursuing the mass adoption of blockchain.